BTCUSD Price Analysis: Bitcoin Again In Bullish Range, Finds Support At The EMAs

By Vince Prince
Published June 29, 2020 Updated June 29, 2020
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BTCUSD Price Analysis
BTCUSD Price Analysis

BTCUSD Price Analysis: Bitcoin Again In Bullish Range, Finds Support At The EMAs

By Vince Prince
Published June 29, 2020 Updated June 29, 2020

BTCUSD price has found support at the 200-EMA which is a good sign and also it provided a bullish EMA crossover in the past which is holding the trending up.

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BTCUSD Price Analysis: 1 D Chart

BTCUSD Price Analysis
BTCUSD Price Analysis

For now, BTCUSD is forming this huge parallel channel where it has the possibility to form a bullish flag when the flag confirms to the upside.

The volume is decreasing which means it can increase in volume and volatility soon. After the trend has confirmed we will see how bullish BTCUSD really is. The RSI is sending moderate signs where it is consolidating in the middle line this can
mean it will visit the oversold or overbought region when the price is trending.

The MACD shows some mixed signs where it confirmed a bearish crossover but this was not really valid because the MACD is slinging in one and another.

  • TREND: Sideways, support found
  • FORMATION: Possible Bull-Flag
  • EXPECTATION: Breakout
  • PREV: 9009.30
  • OPEN: 9008.33
  • VOLUME: 3.073K
  • DAY’S RANGE: 8933.06 — 9191.72
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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Vince Prince
16 Articles
Vince is an experienced trader, investor and financial analyst within the markets in which he concentrates on the cryptocurrencies and decent opportunities within them to trade in a professional oriented manner. You can follow him at trading view market insight at: https://www.tradingview.com/u/VincePrince/ Or you can join his telegram channel: https://t.me/vinceprince_channel

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